In Brief: PKN Orlen; Bank directors' wages; Impexmetal; Koelner; A2 tender

On Friday oil giant PKN Orlen signed a final agreement to buy 63% of Czech oil company Unipetrol's stock. During the next ten days, Orlen is to pay 10% of its $505 million offer. Orlen will finance the takeover with bank loans, and money they will raise from selling shares in Polkomtel. (Parkiet, p. 4; Gazeta Wyborcza, June 5-6, p. 1) ... In 2003 the remuneration of management and supervisory boards of stock-listed banks rose by 19% reaching in total over zł.149 million. (Parkiet p. 1) ... Four companies answered the Treasury's invitation to purchase 31.5% share, worth roughly zł.114 million, of Impexmetal, company which specializes in the production of non-ferrous metals. (Parkiet p. 3) ... Wrocław-based Koelner plans to debut on bourse this autumn. This light industrial constructions, thermoisolation and tools producer hopes to raise zł.70 million by selling 25% of its shares. (Puls Biznesu p.7) ... Budimex Dromex and Strabag Kirchner Mota won the tender to build an 87 kilometer section of the A2 motorway between Konin and Stryków. The consortium is reported to have offered a considerably lower price than the zł.1.57 billion that was expected. The government will finance the works from loans from the European Investment Bank and European Cohesion Funds. (Puls Biznesu p. 8) D.W./M.G.